Drafting Remedies Clauses in Commercial Contracts: Consequential Damage Waivers, Liquidated Damages, Attorneys' Fees

Structuring Enforceable Provisions, Navigating the Interplay With Indemnity and Other Related Clauses

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, January 19, 2016

Recorded event now available

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Program Materials

This CLE webinar will provide guidance to business counsel for negotiating and drafting enforceable remedies provisions in commercial contracts (for products, services and combinations), focusing specifically on clauses addressing consequential damage waivers, liquidated damages, attorneys’ fees and exclusive remedies. The panel will also discuss the interplay of the remedies provision with the indemnification provision in commercial agreements.

Description

Remedies provisions outlining the damages available to contracting parties in the event of contractual breach are heavily negotiated clauses in a wide array of commercial agreements. These provisions can help the non-defaulting party maximize recovery and shield the defaulting party from excessive damages, including monetary damages, specific performance and/or equitable remedies.

Counsel to parties negotiating commercial contracts must carefully approach remedies provisions—which include consequential damage waivers, liquidated damages, attorneys’ fees and exclusive remedies clauses—to minimize potential legal and practical challenges when trying to enforce remedies. Parties must also ensure that the scope of the remedies provision is consistent with the scope of the indemnity provision in the contract.

Listen as our authoritative panel of attorneys discusses strategies for business counsel negotiating and drafting remedies provisions in commercial contracts. The panel will discuss best practices to protect client interests during contract negotiation and remedy enforcement.

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Outline

  1. Common remedies provisions
    1. Consequential damage waivers
    2. Liquidated damages
    3. Attorneys’ fees
    4. Exclusive remedies
    5. Other remedies
  2. Interplay with indemnity and other related provisions
  3. Negotiating, drafting and enforcing remedies
    1. Negotiation considerations and strategies
    2. Enforcement considerations and strategies

Benefits

The panel will review these and other key issues:

  • What are the most commonly negotiated remedies in commercial contracts?
  • What best practices should counsel to contracting parties apply when negotiating and drafting remedies provisions?
  • What legal and practical challenges do counsel to contracting parties face when seeking to enforce remedies provisions—and how can they overcome them?
  • What is the interplay between the remedies provision and the indemnity provision in commercial contracts?

Faculty

Stephen Y. Chow
Stephen Y. Chow

Partner
Burns & Levinson

Mr. Chow developed numerous patent portfolios and strategies for chemical, electrical, information technology and...  |  Read More

Timothy Murray
Timothy Murray

Partner
Murray Hogue & Lannis

Mr. Murray represents numerous businesses and individuals in all manner of contract transactional matters and...  |  Read More

Michael J. Pike
Michael J. Pike

Atty
Pike & Lustig, LLP

Mr. Pike concentrates his practice in the areas of complex-business litigation, contract claims, real estate disputes,...  |  Read More

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Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

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